Published Monday, January 26, 2009
Obama pushes for strong fuel-efficiency standard
WASHINGTON (AP) - President Barack Obama ordered the government today to re-examine whether California and other states should be allowed to have tougher auto emission standards to combat a build up of greenhouse gases, a clean break from Bush administration policy.
Opting into Medicare
McClatchy Newspapers
DALLAS - When Robert Barnhouse of Richardson, Texas, lost his job in October, he tried to hold onto his health insurance but quickly found he couldn’t afford the $500 monthly premiums.
Sprint plans to cut 8,000 jobs
KANSAS CITY (AP) - Sprint Nextel Corp. is eliminating about 8,000 positions in the first quarter as it seeks to cut annual costs by $1.2 billion.
Pfizer to buy Wyeth in $68 billion deal
NEW YORK (AP) - Pfizer Inc. is buying rival drugmaker Wyeth in a $68 billion deal that will increase its revenue by 50 percent, solidfy its No. 1 rank in the troubled industry and transform it from a pure pharmaceutical company into a diversified health-care giant.
Economic activity,
home sales increasing
NEW YORK (AP) - A flood of federal bailout money pushed a private research group’s monthly forecast of economic activity unexpectedly higher in December, while a decline in home prices boosted housing sales.
GM to halt production,
lay off 2,000 workers
DETROIT (AP) - General Motors Corp. says it will cut 2,000 jobs at plants in Michigan and Ohio, and it will halt production for several weeks at nine plants over the next six months due to slow sales.
Caterpillar earnings down by 32 percent
The Associated Press
Caterpillar Inc., the world’s largest maker of mining and construction equipment, said today its fourth-quarter profit plunged 32 percent and that it expects sharply lower results this year as the world economy continues to contract.
Home Depot’s Expo centers to close
CHICAGO (AP) - Home Depot Inc. plans to eliminate 7,000 jobs while closing four dozen stores under its smaller home improvement brands as the recession continues to batter the nation’s housing market.
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Borrowed time
McClatchy Newspapers
CHICAGO - Losing his job in June as head of a health-care not-for-profit was a blow for Christopher Laxton, but the Oak Park, Ill., resident and his wife had a cushion: some savings and a home equity line with Chase that had $40,000 to $50,000 in borrowing capacity left.
Tough economic times offer fertile ground for con artists
McClatchy Newspapers
CHICAGO - The economy is tough, and there are crooks out there looking to make things a whole lot tougher. The number of financial scams circulating is on the rise, some experts said, as criminals seize every opportunity to take advantage of the desperation many are feeling due to the economic downturn.
Build a better family budget
McClatchy Newspapers
CHICAGO - Granted, the recession looks bound to stick around far longer than a New Year’s hangover. But take heart: 2009 marks an ideal time to take hold of your finances and create a family budget that gives you fiscal peace and a clear list of spending and saving goals for the months ahead, whether you’re looking to pay down credit cards, fund a vacation or simply get your financial house in order.
